5. March 2020 ecokontor

EQTEC signs MOU to develop first advanced gasification plant in Greece

In the UK, EQTEC announced the signing of a Memorandum of Understanding with German EPC company, ewerGy GmbH, covering the key terms of the proposed cooperation for the engineering design and installation of the first advanced gasification plant in Greece.

ewerGy will operate in Greece via its local partner, Eco Hellas SA, together with Greece based promoter and project developer, Agrigas Energy SA (“Agrigas”), which will own and operate the fully permitted 0.5MWe gasification installation in Larissa, in central Greece (the “Initial Plant”).

Under the MOU, it is intended that EQTEC will provide, inter alia, its gasification technology to the Initial Plant as nominated subcontractor to ewerGy.  The feedstock for this plant will be densified straw, corn and cotton stalk residues, which can be sourced locally from farmers in the region. Commissioning of the Initial Plant is expected to take place during Q1 2021.

Under the MOU, subject to the performance of the Initial Plant, the parties have also committed to the development of a second 1MWe plant (together with the Initial Plant, the “Project”), owned by an affiliated party of Agrigas in another location in Greece, which is currently in the planning approval process.